Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sirius Extension
Drilling completed by Alien Metals (16 RC holes / 1,481m and 1 core hole / 124m) and Volta Mining (4 RC holes / 475m). Upper portions of the deposits are well drilled on a 80m x 40m grid with wider spaced drilling at depth and further along strike. Drilling was dominantly at -600 towards the south or north. The majority of holes were downhole surveyed by various methods and collars located by contracted or mine surveyors. The RC holes are 5 ¼" nominal diameter and the core hole was HQ size.
Ridge C and Ridge E
The Ridge C resource model contains 88 RC holes and 1 core hole for 2,856m and 33m respectively. The Ridge E resource model relies upon
85 RC holes for 3,167m of drilling. Holes are on a nominal 40m x 40m spacing and drilled at -60o towards the north utilising a 5 11/4" drill hole with regular down hole surveys and collar locations picked up by licensed surveyors where predictable
The average corrected density value for Ridge C and E is 2.74 g/cm3 and at Sirius Extension, 2.5 g/cm3. No correction has been made for the Cap or fresh and oxidised domains due to the lack of moisture data.
At Sirius Extension, it is worth noting that the density data stops at the location of the interpreted water table and at the approximate contact of the high/low Si02 domains. It is possible that density will increase above the current average of 2.5 g/cm3 within the high Si02 domain. In the absence of other data however, the conservative approach has been taken using the raw caliper adjusted downhole gamma data.
The interpolated block model was validated through visual checks and a comparison of the mean input composite and output model grades. BGS is confident that the interpolated block.
So looks like a few more holes into Sirius and then upragedethe resource to indicated
Mr moon for your information UFO are debt free
Mr moon please refrain from posting nonsense .Wasn’t rambler riddled with debt?
Thats an excelent point max ,what interest does Richard have as a major shareholder to be taken on the cheap?
Would any major shareholder willingly dillute themselves ?
Smiller its easy to say in hindsight but the fact of the matter is we dont know for certain which is why we are dropping today despite the resource upgrade and an excellent mining plan.
Bob no offence taken but im just trying to make sense of it all myself , put yourself in their shoes what would make you take such action.
Serious question if trolls think this share is so bad then why the desperate need to relentlessly post drivel ?
The only reason i can see for Rod leaving is that our major shareholder Richard shemesian had some sort of disagreement with how certain things wer managed perhaps SP performance , dealings with contractors etc.
Is it not safe to say that Guy Robertson is somewhat closer to Richard which means a more unified BOD with interests aligned with shareholders?
As far as I can see Richard is eagerly backing this project and wants this to go into production a soon as possible so I believe he we try to facilitate the pptocess from explorer to profucer as much as possible.
If you look back ti the share incentive plan Jo battershill and Mark culbert were not included.. so part of the plan really
Also Rod was not intended to recieve incentive shares upon completing offtake signing,term sheets and mining license but will for delivering UFO into production
Mr moon can you give it a rest please!
Your not making sense mate.
Economic
The financial analysis used the results of the mine schedule to inform the financial model and the Competent Person observes that the operation is profitable on the condition that the mining inventory is mined along with the Ore Reserve.
The Competent Person is satisfied that these parameters correspond to the confidence expressed in a Pre-Feasibility Study.
Social
Licencing has not been completed and the Competent Person notes that the proposed operation is in an iron ore mining region, with adjacent iron ore mining operations and does not see any impediment to licensing.
Other
The Competent Person does not identify any material natural risks.
The offtake agreements and project licensing are at a negotiation stage and the Ore Reserve is conditional on these being fulfilled.
The Competent Person does not see any impediment to legal or offtake agreements.
Infrastructure
The Han**** project lies near the major iron ore mining town of Newman where sufficient support infrastructure is available on contract to support the proposed operation as an operating cost.
Environmental
Environmental licensing and studies are progressing and the Competent Person sees no apparent obstructions to licensing commensurate with estimation of a Probable ore Reserve
Metallurgical factors or assumptions
Metallurgy assumes that all of the Ore Reserve reports to product, which is not unreasonable in a bulk iron ore mining operation, where metallurgical losses are likely to be negligible.
The cash flow model has corrected the scheduled product grades for penalties, as per the offtake contract.
The mine scheduling software is a mixed integer linear programming algorithm that has used the product specifications to drive its results.
Bulk samples have been taken and evaluated and the Competent Person is satisfied that these, while preliminary, indicate that the majority of the product will report to the fines fraction.
The Competent Person has recommended further metallurgical study to determine behaviour in the crushing and screening plant and lump-fines split.
The mining method is to be conventional Pilbara open pit truck-and-shovel iron ore mining, utilising a backhoe configuration excavator and articulated all-terrain trucks.This technique and selection of all-terrain trucks is considered to be appropriate in relation to the scale of the operation and rugged topography.Geotechnical parameters are assumed at this stage, based on geotechnical parameters in similar iron ore pits in the immediate vicinity.The Mineral Resource model has been reblocked to 5m x 5m x 2m for Ridges C and E and 5m x 5m x 2.5m for the Sirius (Constrained) mineralisation in an attempt to model dilution and ore loss. This reflects selective mining and the use of a bulldozer to separate shale bands from the ore.Minimum mining widths were set at 30m, but in practice this is likely to be less, given the relatively flat-lying nature of the mineralisation.Infrastructure is minimal, the project being reliant on contract, temporary infrastructure.
https://www.wa.gov.au/system/files/2022-10/ACMC-2023-Meeting-Dates.pdf
bobajob perhaps get a job and stop trying to police this board…
Tacet I honestly think you see this war in black and white)Russia Bad / West good) which is probably a result of watching too much BBC.
Rods has a lot more than 10million shares lol
Looks leaky and volume has built up since the AMEC announcement , heritage clearance and permits not far off im guessing
“lets hope we are bought out then” why should we ??
No reason to let this go on the cheap mate
SHARE INCENTIVE PLAN AWARDS
Alien Metals Limited, the minerals exploration and development company, is pleased to announce, in accordance with the Share Incentive Plan as approved by the Board on 14 November 2022 it will issue, subject to the satisfaction of specified high hurdle performance conditions ("Performance Conditions"), as outlined below, a total of 178,000,000 Incentive Shares ("Incentive Shares") to the Company's Iron Ore Company of Australia ("IOCA") executive team, subject to the achievement of the Performance Conditions set out below in relation to the development of the Hammersley Iron project.
The incentive plan is specifically designed to incentivise the executive team to deliver the Han**** iron mine into production in a timely manner, minimise staff turnover and ensure a cost-effective development. The award hurdles are seen as high value achievements and as such are strongly aligned with shareholder interests.